Rush Street Interactive, Inc. (NYSE:RSI) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of Rush Street Interactive, Inc. (NYSE:RSI) by 656.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,658 shares of the company’s stock after purchasing an additional 67,388 shares during the quarter. Principal Financial Group Inc.’s holdings in Rush Street Interactive were worth $843,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System increased its position in shares of Rush Street Interactive by 17.2% in the 3rd quarter. New York State Teachers Retirement System now owns 6,938 shares of the company’s stock valued at $75,000 after acquiring an additional 1,020 shares during the period. Quarry LP increased its holdings in shares of Rush Street Interactive by 15.9% in the second quarter. Quarry LP now owns 8,762 shares of the company’s stock valued at $84,000 after purchasing an additional 1,200 shares during the period. CWM LLC raised its stake in shares of Rush Street Interactive by 425.6% in the third quarter. CWM LLC now owns 9,209 shares of the company’s stock worth $100,000 after purchasing an additional 7,457 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Rush Street Interactive in the third quarter worth about $148,000. Finally, Creative Planning acquired a new stake in shares of Rush Street Interactive during the third quarter worth about $180,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Wall Street Analyst Weigh In

RSI has been the subject of a number of recent research reports. Needham & Company LLC raised their price target on shares of Rush Street Interactive from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Oppenheimer boosted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their price target on shares of Rush Street Interactive from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Craig Hallum upped their target price on Rush Street Interactive from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.43.

Insider Buying and Selling

In other Rush Street Interactive news, insider Paul Wierbicki sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $11.23, for a total transaction of $393,050.00. Following the completion of the sale, the insider now directly owns 139,982 shares in the company, valued at approximately $1,571,997.86. The trade was a 20.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mattias Stetz sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $12.00, for a total value of $60,000.00. Following the completion of the transaction, the chief operating officer now owns 575,484 shares in the company, valued at approximately $6,905,808. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 429,839 shares of company stock valued at $4,508,971. 56.89% of the stock is owned by company insiders.

Rush Street Interactive Stock Down 1.2 %

RSI stock opened at $13.32 on Friday. Rush Street Interactive, Inc. has a 52-week low of $3.56 and a 52-week high of $13.71. The firm has a market cap of $3.01 billion, a P/E ratio of -666.00 and a beta of 1.78. The company’s 50-day simple moving average is $10.95 and its 200-day simple moving average is $9.86.

About Rush Street Interactive

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.